Posted on 02/19/2016 10:46:18 AM PST by Oldeconomybuyer
Venezuela's economy is collapsing. The country has topped Bloomberg's "Economic Misery Index," which takes into account several economic measures, for two years. Runaway inflation and high unemployment are plaguing the country.
Socialism is what produces bread lines in an oil-rich country. In developed countries, economic debates often focus on narrow questions, such as raising the minimum wage, where it's possible for reasonable people to disagree. This leads to an impression that the relative merits of free enterprise and big government policies can be in the eye of the beholder.
To a certain extent this is true. Or, at any rate, different economic policies affect individual countries differently. Make no mistake: A free enterprise system requires an important role for government. But while unleashed capitalism can have unseemly side effects, no policy produces the kind of sheer economic devastation that authoritarian socialism does. Sadly, Venezuela gives us yet another example.
(Excerpt) Read more at theweek.com ...
Ah, I think it has collapsed.
The MSM is keeping alive the illusion that
Venezeula is still a functioning nation.
Sanders land.
So true, and socialism, be it authoritarian or not, always produces a less than strong environment for prosperity to blossom and take hold.
There has not been a system developed by man that has been perfect, but Capitalism is by and far the best developed to date.
No relief on the horizon with regard to the price of oil. The real problem with socialism is that it tends to consume its seed grain and then it’s all over. The hope for the country is in the black market, but it’s a socialist government’s deadly rival, because it can’t be controlled. Things are likely to get worse before they get better.
Venezuela was collapsing while Chavez was alive. Once he died the charisma and personality cult was gone and people saw the reality of the situation.
Oil just abetted the process.
Burnie should be questioned on true socialism in Venezuela or will he blame it on Big Oil?
I wonder what Sanders would have to say about Venezuela?
Might be something Trump can use against Sanders in the general.
How can an American with an IQ greater than 30 look at Venezuela and vote for Sanders?
Answer: NEA
My guess is Big Oil in combination with unfounded accusations of intervention by America to thwart Venezuela’s ability to compete. One thing we can be certain about would be him admit to the truth, that socialism is the direct cause. His campaign is hinged upon promoting and selling the beauty of socialism to those who really do not know better. That would include those who may be unwilling to vote for Hillary, but are also adverse to ever voting for a Republican.
Chavez made oil 95% of the economy. It’s a bad idea to put all your eggs in one bastard.
>>>His campaign is hinged upon promoting and selling the beauty of socialism to those who really do not know better.
No doubt! It’s easy to sell low lying fruits(free stuff or tax the rich brumbeat). The utopia of the former USSR should be a crystal clear example & what’s behind the façade is total government control. Which company is it, BIG GOV or BIG OIL?
NEA...exactly!
I worked down there in the '80s and even then cracks were starting to show.** I talked with one expat who came down there after WWII who said he saw people cutting three holes in a burlap sack - each corner and the middle and using that as a garment.
I mentioned that when I flew from Caracas to Puerto La Cruz, the land was empty between the cities. He said there used to be farms all over the place and Venezuela was self-sufficient in food. When the oil industry really started to develop, everyone bailed for the much-higher paying jobs and they had to import food soon after.
** My first day at the camp started at 5 a.m. and as we approached the gate, I saw a mob of people and thought it was a protest. No, it was just workers lining up for a chance at a days pay.
A buddy of mine was a dog lover and used to feed hamburgers to those who wandered about the camp. He was told to knock it off as it looked bad to those starving outside - besides, they crapped all over the place.
Yup.
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